XML 63 R47.htm IDEA: XBRL DOCUMENT v3.24.2.u1

Financing (Tables)

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Schedule of Forward Contracts Indexed to Issuer's Equity

Gross cash proceeds shown below were reduced by $1.0 million in issuance costs resulting in net cash proceeds of $198.2 million.

Forward completion						Initial forward price												Shares						Settlement price						Settlement amount
																														(in thousands)
March 15, 2023						$	48.49											504,452						$	49.00					$	24,720
March 20, 2023						48.30												528,082						48.78						25,758
May 30, 2023						47.56												244,639						47.99						11,741
June 30, 2023						44.87												804,477						45.07						36,257
September 26, 2023						44.03												2,283,860						44.11						100,734
																		4,365,510												$	199,210

Schedule of Derivative Liabilities at Fair Value

As of June 30, 2024, PNMR’s hedging agreements are as follows:

												Variable Rate						Established
Effective Date						Maturity Date						Debt Hedged						Fixed Rate
												(In millions)						(Percent)
January 1, 2024						December 31, 2024						$	100.0					3.32		%
January 1, 2024						December 31, 2024						100.0						3.32
January 1, 2024						December 31, 2024						100.0						3.38
January 1, 2024						December 31, 2024						150.0						3.62
January 1, 2024						December 31, 2024						150.0						3.57
January 1, 2025						December 31, 2025						100.0						4.18
January 1, 2025						December 31, 2025						100.0						4.18
January 1, 2025						December 31, 2025						100.0						3.99

Schedule of Short-term Debt

Short-term debt outstanding consists of:

			June 30, 2024												December 31, 2023
			Balance Outstanding						Weighted Average Interest Rate						Balance Outstanding						Weighted Average Interest Rate
			(In thousands)												(In thousands)
PNM:
PNM Revolving Credit Facility			$	30,600					6.67%						$	107,500					6.69%
PNM New Mexico Credit Facility			40,000						6.69						30,000						6.71
			70,600												137,500
TNMP Revolving Credit Facility			100,600						6.31						55,100						6.32
PNMR Revolving Credit Facility			155,200						6.93						69,300						6.96
			$	326,400											$	261,900

X

- References

No definition available.

+ Details

Name:	us-gaap_DebtDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of derivative liabilities at fair value.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfDerivativeLiabilitiesAtFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of freestanding forward contracts issued by an entity that are indexed to, and potentially settled in an entity's own stock. The disclosure may include, but not be limited to: (i) the forward rate and the number of shares to which the contract is indexed, (ii) the settlement date or dates of the contract, (iii) the issuer's accounting for the contract, (iv) settlement alternatives (if applicable) including who controls the settlement alternatives and the maximum number of shares that could be required to be issued to net share settle the contract (if applicable), (v) the fact that a potentially infinite number of shares may be required to be issued to settle the contract, if a contract does not have a stated fixed or determinable maximum number of shares, and (vi) the contract's current fair value for each settlement alternative and how changes in the price of the issuer's equity instruments affect those settlement amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 40
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-5

+ Details

Name:	us-gaap_ScheduleOfForwardContractsIndexedToIssuersEquityTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(19))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfShortTermDebtTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration